|Who owns this Yacht?|
1. The new rules are named, Public Servants (Furnishing of Information and Annual Return of Assets and Liabilities and the Limits of Exemption of Assets in Filing Results) Rules, 2014.
2. The new Rules came into effect from July 14, 2014.
3. Under Lokpal and Lokayuktas Act, 2013, every public servant shall file declaration, information or return regarding his assets and liabilities of the previous fiscal by July 31.
4. A public servant is exempted from filing information about an asset if its value does not exceed four months of his or her basic pay or Rs 2 lakh, whichever is higher.
5. A public servant has to show assets and liabilities of his or her spouse and dependent children too.
6. List of moveable properties include cash in hand, bank deposits including fixed deposits, details of bonds, shares, mutual funds etc., details of postal savings, insurance, provident fund etc.
7. One needs to give details of motor vehicles, aircraft, yacht, ships etc. owned by self, spouse or dependent children. And also details of their registration numbers, year of purchase and amount need to be recorded.
8. Details of gold, silver and precious stones etc. need to be submitted.
9. On the statement of immovable properties, a civil servant will have to describe the property, land or house or flat or shop etc., and date of acquisition and how it was acquired (whether by purchase, mortgage, lease, inheritance or gift).
10. The present value of the property and the annual income from it also need to be furnished. Even earlier, a civil servant needed to furnish his immovable properties.